Pakistan received $763 million in foreign loans and grants during July 2026, the first month of the current financial year, compared with $694.5 million received in the same month of the previous financial year.
The increase came despite lower disbursements from bilateral and multilateral creditors, as inflows through Naya Pakistan Certificates (NPC) rose significantly during the month. Pakistan attracted $343.99 million through conventional and Islamic NPCs in July, up from $196.22 million a year earlier.
According to data released by the Economic Affairs Division, China provided $146 million in guaranteed loans during July. Bilateral loans and grants from other countries totaled $19.6 million, sharply lower than the $118.4 million received in July of the previous financial year.
Of the bilateral financing, Pakistan received $1.3 million from France, $9.94 million from Germany, $0.94 million from Japan and $7.42 million from Saudi Arabia.
Multilateral creditors disbursed $252.83 million during July, compared with $379.8 million in the same month of the previous financial year. The Asian Development Bank provided $59.17 million, while the Asian Infrastructure Investment Bank disbursed $6.57 million.
The World Bank was the largest multilateral source, providing $130 million through the International Development Association and another $29.22 million through the International Bank for Reconstruction and Development. The Islamic Development Bank provided $1.75 million, along with $22.71 million in short term financing.
The International Fund for Agricultural Development and OPEC Fund disbursed $2 million and $0.76 million, respectively. Meanwhile, NPC Islamic financing accounted for the largest share of NPC inflows at $246.67 million, while conventional NPCs attracted $97.32 million during July.
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